Founded in 1961 and headquartered in Paris, the Organisation for Economic Co-operation and Development (OECD) economic organization composed of 38 member countries. Its goal is to stimulate global economic progress and facilitate world trade.
Currently, the following countries are OECD members: Germany, Australia, Austria, Belgium, Canada, Chile, Colombia, South Korea, Costa Rica, Denmark, Slovakia, Slovenia, Spain, United States, Estonia, Finland, France, Greece, Netherlands, Hungary, Ireland, Iceland, Israel, Italy, Japan, Latvia, Lithuania, Luxembourg, Mexico, Norway, New Zealand, Poland, Portugal, United Kingdom, Czech Republic, Sweden, Switzerland, and Turkey.
Brazil notably is not part of this select group, although political reasons are an important variable that still prevent its entry. However, the OECD establishes guidelines to be followed by member countries. This, in turn, encourages similar standards to be required of those with whom they do business.
The OECD published the 2021 Anti-Bribery Recommendation to improve the fight against bribery of foreign public officials in international commercial transactions. In summary, the following highlights are listed below:
HIGHLIGHTS FROM THE 2021 OECD ANTI-CORRUPTION RECOMMENDATION
1. Require that member countries encourage the development of compliance programs, both in the context of its application and in the participation of companies in government purchases or when receiving other public benefits.
2. Require a level playing field between state-owned companies and private companies, subjecting state-owned companies to the same compliance expectations and standards than private ones.
3. Ask countries to remove obstacles to effective due diligence and other compliance practices presented by data protection regimes.
4. Emphasis on accounting standards and internal auditing.
5. Encourage reporting and protection of whistleblowers.
6. Improve and update OECD guidance on internal controls, ethics and compliance, guidelines which influence standards imposed by the United States and other law enforcement authorities in countries that participate in the OECD and are party to the Anti-Bribery Convention.
The document titled Annex II – Good Practice Guidance on Internal Controls, Ethics and Compliance focuses on companies, business organizations, and professional associations. It is divided into two distinct sections and has been substantially updated, as can be seen in the table below:
It is important to note that all recommendations will be observed within the monitoring program carried out by the OECD Anti-Bribery Working Group.